The Premiere Website For Police News In Texas

          



 

Dallas County Twins Sentenced in Foreign Currency Trading Scheme
Plano, Texas
   
 
More Today's News:
ߦ   IN MEMORIAM - David Eugene Hagler
ߦ   Fatality Motor Vehicle Accident Updated 06/24/2017
ߦ   14 Jailed In Drug Trafficking, Money Laundering
ߦ   Arrest Brings Shocking Discoveries in 1988 Texas Cold Case
ߦ   Batman arrests shoplifter in Fort Worth
ߦ   Burnet County Sheriff's Office - Inmate/Arrests Summary
ߦ   Coast Guard searches for missing man in San Antonio Bay
ߦ   Constables arrest 2 for Burglary of a habitation and unauthorized use of a motor vehicle
ߦ   Copperas Cove PD Needs Help Identifying Counterfeiters
ߦ   Crime Stopper Alert - Aggravated Sexual Assault
ߦ   Dashcam footage shows Texas officers rescuing puppy from hot car
ߦ   Ex-boyfriend sentenced to 30 years for Family Violence Assault
ߦ   Family: Gang member ditches baby after killing girlfriend
ߦ   FCC Reminds Public about New Requirement to Pass Through Emergency Information on the Secondary Audio Stream for Blind Audience Members
ߦ   Former Energy Company Executive Sentenced in Embezzlement Scheme
ߦ   Former Houston police officer indicted after February confrontation
ߦ   Illegal Game Rooms Shut Down
ߦ   Jack Roady Re-Election Kickoff & Fundraiser - June 29
ߦ   Man who posed as officer wanted for sex assault
ߦ   Missing Juvenile - Katy, Texas
ߦ   New commander to take charge of Coast Guard air operations in Houston/Galveston area
ߦ   Paris Police Dept - Daily Activity/Arrests Summary
ߦ   Pocono Mountain Regional Police bid farewell to K9 Niko
ߦ   Rapist arrested for attacking 88-year-old woman; man suspected in other Houston-area crimes
ߦ   Sheriff's deputies: Mother 'distracted by Facebook' charged in infant daughter's drowning
ߦ   The U.S. Supreme Court protects wouldbe citizens who lie.
ߦ   Tropical Storm Cindy aftermath: Body found on Bolivar beach
ߦ   Victoria Man Charged with Hate Crime in Burning of Mosque
ߦ   When a mom goes to jail, who is responsible for her children?
ߦ   SUBSCRIBE To Texas Police News
ߦ   MOST WANTED FUGITIVES
ߦ   Employment
ߦ   Police News - Calendar of Events
ߦ   4 more Los Angeles police cadets arrested in scandal
ߦ   Aggravated Robbery with Deadly Weapon Suspect Arrested by Constable Deputies

   Next >>
 
Search Archives:

FOR IMMEDIATE RELEASE                DAVILYN WALSTON

           THURSDAY, MARCH 9, 2017        PUBLIC INFORMATION OFFICER                

http://www.usdoj.gov/usao/txe  

 

Dallas County Twins Sentenced in Foreign Currency Trading Scheme

 

PLANO, Texas – Dallas County twin brothers were sentenced to prison for federal violations in the Eastern District of Texas, announced Acting U.S. Attorney Brit Featherston today.

 

Roger Harvey Wagner, of Grand Prairie, Texas and Rodney Lee Wagner, of Cedar Hill, Texas, each pleaded guilty on July 7, 2016, to conspiracy to commit wire fraud and were sentenced to 48 months in federal prison on Mar. 8, 2017, by U.S. District Judge Amos Mazzant.  The 52-year-old twins were also ordered to pay restitution in the amount of $1,895,318.62.

 

           According to information presented in court, the Wagner brothers perpetrated what amounted to a Ponzi scheme that caused investors to lose over $2.1 million. From February through November 2010, the brothers solicited money from investors to be invested in foreign currency trading.  The brothers promised investors they would be repaid their principal plus a fixed rate of return that would be paid out to them over a series of weeks.  Very little of the invested money was used for foreign currency trading, and prosecutors contended the money received from the latest investors was used to repay earlier investors to keep them lulled. 

 

            "These scams, unfortunately, are in our midst,” said Acting U.S. Attorney Featherston.  “I encourage all potential investors to fully investigate any investment opportunity before handing over hard earned money.  If a deal sounds too good to be true, as the saying goes...it usually is!  These two individuals may not wear a mask over their face and may not carry a gun, but they are as much a thief as those that do, and they deserve the just punishment handed down by the court."
                       

This case was investigated by the Texas State Securities Board and the Federal Bureau of Investigation and was prosecuted by Assistant U.S. Attorneys Andy Williams and Tom Gibson. 

Post a comment
Name/Nickname:
(required)
Email Address: (must be a valid address)
(will not be published or shared)
Comments: (plain text only)
Printer Friendly Format  Printer Friendly Format    Send to a Friend  Send to a Friend    RSS Feed  RSS Feed
  Facebook   Share link on Twitter Tweet  


© 1999-2017 The Police News. All rights reserved.